Treasury curve bear steepens as long-term yields jump

U.S. Treasuries are bear steepening, with yields moving higher across the curve and the long end leading the selloff.
The 10-year yield rose to 4.696%, up 4.3 basis points.
The 30-year yield climbed to 5.241%, up 4.7 basis points.
A bear steepener means long-term borrowing costs are rising faster than shorter maturities.
For $UST and equities, that matters because higher long-duration yields tighten financial conditions and put additional pressure on growth-stock valuations.